First UN talks to save oceans kick off Monday

June 4, 2017

Miami, Jun 4: World leaders convene at UN headquarters next week for the first major bid to solve the toughest problems facing our oceans, from coral bleaching to plastic pollution, overfishing and rising seas due to climate change.

The Ocean Conference in New York June 5-9 attempts to rally nations big and small to make meaningful changes to preserve what is arguably the Earth's most important resource, experts say.

US President Donald Trump's recent decision to withdraw from the Paris climate accord is expected to be a hot topic at the talks, which no high-ranking US officials are expected to attend.

But despite Trump's decision Thursday to end US participation in the Paris deal, which drew worldwide condemnation, experts at the Pew Charitable Trust said the United States has been a part of crafting a broad “call to action,” and is expected to sign it.

“We are committed to halting and reversing the decline in the health and productivity of our ocean,” says the three-page document, which also expresses alarm at the impact of climate change on the ocean.

The call to action is expected to be signed and released some point during the week-long conference, which will bring government officials, ocean advocates and some heads of state to New York.

The US pullout from Paris means other nations will lead the way at the UN talks, particularly small island nations that have the most to lose.

“How can you worry about someone who is not in the room?” said Ambassador Ronny Jumeau, permanent representative to the United Nations for Seychelles.

“Look at who is here, who is sitting in the front row, and say, 'Now what are we going to do about this?'“

The world just marked its three hottest years in modern times. And the oceans have absorbed about one third of the carbon dioxide released by human activities, protecting the planet from the full brunt of climate change.

Melting glaciers and sea ice at the poles threatens swell sea level to the point of washing away entire islands and populated coastlines — home to 37 percent of the planet's population — in the coming decades.

Just 20 inches (half meter) of sea level rise could displace 1.2 million people from islands in the Caribbean Sea, Indian and Pacific Oceans.

Recent studies have shown the troubling extent of plastic pollution, even in the most remote parts of the world.

An uninhabited island in the south Pacific, Henderson Island, thousands of miles from civilization was recently shown to be piling up more than 3,500 pieces of plastic per day.

Even year, more than eight million ton of plastic washes into the oceans, costing at least $8 billion in damage to marine ecosystems and killing an estimated one million sea birds, 100,000 sea mammals and untold numbers of fish.

And famous coral reefs, such as Australia's Great Barrier Reef, are suffering from hot temperatures like never before in modern times, with mass bleaching and die-offs continuing unabated for the past two years.

“Small island states cannot afford to be dismayed or feel down or depressed about any of this,” said Jumeau during a UN press conference.

“We are reaching out to all the friends of the oceans that you can think of to meet the challenges that we face.”

Previous global meetings on problems facing the oceans have taken place, but the World Wildlife Fund's John Tanzer described this one as “historic” because the talks are under the auspices of the United Nations for the first time.

“The reality is that oceans have been in steep decline for at least the last 50 or 60 years,” Tanzer, global oceans lead at WWF, told AFP.

“Here we are in 2017, and it is impossible to talk of anywhere in the world's oceans as being pristine,” he said.

Specifically, nations will talk about how to meet the 2015 UN-adopted Sustainable Development Goal 14, to “conserve and sustainably use the oceans, seas, and marine resources.”

Targets include protecting at least 10 percent of coastal and marine environments by 2020, reducing ocean pollution and strengthening ways to fight illegal, unreported, and unregulated fishing.

A recent report found that illegal fishing in the Pacific has reached a “staggering” value of up to $740 million a year, with much of the problem blamed on fleets from the US, Asia and Europe which under-report their catches.

Individual nations and advocacy groups are already announcing voluntary steps they will take to conserve oceans and protect marine life.

Those pledges will be updated throughout the conference, and can be seen online at https://oceanconference.un.org/commitments.

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Vietnamese billionaire Truong My Lan sentenced to DEATH for $44bn fraud

News Network

April 11,2024

Real estate tycoon Truong My Lan was sentenced Thursday to death by a court in Ho Chi Minh city in southern Vietnam in the country's largest financial fraud case ever, state media Thanh Nien said.

It's a rare verdict - she is one of very few women in Vietnam to be sentenced to death for a white collar crime, i.e. looting one of the country's largest banks over a period of 11 years.

The decision is a reflection of the dizzying scale of the fraud. Truong My Lan was convicted of taking out $44bn (£35bn) in loans from the Saigon Commercial Bank. The verdict requires her to return $27bn, a sum prosecutors said may never be recovered. Some believe the death penalty is the court's way of trying to encourage her to return some of the missing billions.

The habitually secretive communist authorities were uncharacteristically forthright about this case, going into minute detail for the media. They said 2,700 people were summoned to testify, while 10 state prosecutors and around 200 lawyers were involved.

The evidence was in 104 boxes weighing a total of six tonnes. Eighty-five defendants were tried with Truong My Lan, who denied the charges.

"There has never been a show trial like this, I think, in the communist era," says David Brown, a retired US state department official with long experience in Vietnam. "There has certainly been nothing on this scale."

The trial was the most dramatic chapter so far in the "Blazing Furnaces" anti-corruption campaign led by the Communist Party Secretary-General, Nguyen Phu Trong.

A conservative ideologue steeped in Marxist theory, Nguyen Phu Trong believes that popular anger over untamed corruption poses an existential threat to the Communist Party's monopoly on power. He began the campaign in earnest in 2016 after out-manoeuvring the then pro-business prime minister to retain the top job in the party.

The campaign has seen two presidents and two deputy prime ministers forced to resign, and hundreds of officials disciplined or jailed. Now one of the country's richest women has joined their ranks.

Truong My Lan comes from a Sino-Vietnamese family in Ho Chi Minh City, formerly Saigon. It has long been the commercial engine of the Vietnamese economy, dating well back to its days as the anti-communist capital of South Vietnam, with a large, ethnic Chinese community.

She started as a market stall vendor, selling cosmetics with her mother, but began buying land and property after the Communist Party ushered in a period of economic reform, known as Doi Moi, in 1986. By the 1990s, she owned a large portfolio of hotels and restaurants.

Although Vietnam is best known outside the country for its fast-growing manufacturing sector, as an alternative supply chain to China, most wealthy Vietnamese made their money developing and speculating in property.

All land is officially state-owned. Getting access to it often relies on personal relationships with state officials. Corruption escalated as the economy grew, and became endemic.

By 2011, Truong My Lan was a well-known business figure in Ho Chi Minh City, and she was allowed to arrange the merger of three smaller, cash-strapped banks into a larger entity: Saigon Commercial Bank.

Vietnamese law prohibits any individual from holding more than 5% of the shares in any bank. But prosecutors say that through hundreds of shell companies and people acting as her proxies, Truong My Lan actually owned more than 90% of Saigon Commercial.

They accused her of using that power to appoint her own people as managers, and then ordering them to approve hundreds of loans to the network of shell companies she controlled.

The amounts taken out are staggering. Her loans made up 93% of all the bank's lending.

According to prosecutors, over a period of three years from February 2019, she ordered her driver to withdraw 108 trillion Vietnamese dong, more than $4bn (£2.3bn) in cash from the bank, and store it in her basement.

That much cash, even if all of it was in Vietnam's largest denomination banknotes, would weigh two tonnes.

She was also accused of bribing generously to ensure her loans were never scrutinised. One of those who was tried used to be a chief inspector at the central bank, who was accused of accepting a $5m bribe.

The mass of officially sanctioned publicity about the case channelled public anger over corruption against Truong My Lan, whose fatigued, unmade-up appearance in court was in stark contrast to the glamorous publicity photos people had seen of her in the past.

But questions are also being asked about why she was able to keep on with the alleged fraud for so long.

"I am puzzled," says Le Hong Hiep who runs the Vietnam Studies Programme at the ISEAS - Yusof Ishak Institute in Singapore.

"Because it wasn't a secret. It was well known in the market that Truong My Lan and her Van Thinh Phat group were using SCB as their own piggy bank to fund the mass acquisition of real estate in the most prime locations.

"It was obvious that she had to get the money from somewhere. But then it is such a common practice. SCB is not the only bank that is used like this. So perhaps the government lost sight because there are so many similar cases in the market."

David Brown believes she was protected by powerful figures who have dominated business and politics in Ho Chi Minh City for decades. And he sees a bigger factor in play in the way this trial is being run: a bid to reassert the authority of the Communist Party over the free-wheeling business culture of the south.

"What Nguyen Phu Trong and his allies in the party are trying to do is to regain control of Saigon, or at least stop it from slipping away.

"Up until 2016 the party in Hanoi pretty much let this Sino-Vietnamese mafia run the place. They would make all the right noises that local communist leaders are supposed to make, but at the same time they were milking the city for a substantial cut of the money that was being made down there."

At 79 years old, party chief Nguyen Phu Trong is in shaky health, and will almost certainly have to retire at the next Communist Party Congress in 2026, when new leaders will be chosen.

He has been one of the longest-serving and most consequential secretary-generals, restoring the authority of the party's conservative wing to a level not seen since the reforms of the 1980s. He clearly does not want to risk permitting enough openness to undermine the party's hold on political power.

But he is trapped in a contradiction. Under his leadership the party has set an ambitious goal of reaching rich country status by 2045, with a technology and knowledge-based economy. This is what is driving the ever-closer partnership with the United States.

Yet faster growth in Vietnam almost inevitably means more corruption. Fight corruption too much, and you risk extinguishing a lot of economic activity. Already there are complaints that bureaucracy has slowed down, as officials shy away from decisions which might implicate them in a corruption case.

"That's the paradox," says Le Hong Hiep. "Their growth model has been reliant on corrupt practices for so long. Corruption has been the grease that that kept the machinery working. If they stop the grease, things may not work any more."

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